The new method uses a statistical calculation to interpret changing levels in women's blood of a protein called CA125, which is linked to ovarian cancer.
This gives a more accurate prediction of a woman's individual risk of developing cancer, compared to the conventional screening method which uses a fixed 'cut-off' point for CA125.
The new method detected cancer in 86 per cent of women with invasive epithelial ovarian cancer while earlier techniques detected just 41 per cent.
The research, published in the Journal of Clinical Oncology, evaluated 46,237 women for a 14-year period who continued to attend annual screening following their first screen.
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Their blood was tested once a year for CA125 levels and then a computer algorithm was used to interpret their risk of ovarian cancer based on factors including the woman's age, the original levels of CA125 and how that level changed over time.
University of New South Wales Vice-Chancellor Ian Jacobs, who co-developed the test, said the CA125 snapshot has been called into question as a reliable biological marker for ovarian cancer but the new findings indicate that "this can be an accurate and sensitive screening tool when used in the context of a woman's pattern of CA125 over time."
He hopes that the new approach will prove capable of detecting ovarian cancer early enough to save lives.
"There is currently no national screening programme for ovarian cancer, as research to date has been unable to provide enough evidence that any one method would improve early detection of tumours," Professor Usha Menon, the co-principal investigator and trial co-ordinator at UCL was quoted as saying by 'The Guardian'.